At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.07 points at 1,457.95 from Tuesday's close of 1,457.88.
The index opened 3.25 points strong at 1,461.13.
The bourse opened slightly higher after tracking an overnight rally on Wall Street as market consensus moves toward inflation in the coming quarters.
On the broader market, investors saw gainers at 164 outpacing losers at 113, while 235 counters were unchanged, 1,763 untraded and 19 suspended.
Total turnover at 220.19 million units worth RM99.86 million.
A note from Malacca Securities Sdn Bhd stated that investors were weighing the risk of a recession from rising global inflation, prompting the adoption of a ‘sell -on trend’ strategy.
In addition, there was also an announcement on the removal of the chicken and egg price ceiling effective July 2022, offering a slight delay for the poultry sector.
Meanwhile, the brokerage expects investors may choose tech stocks as buying interest may emerge from Wall Street's overnight rally.
Heavyweights saw Malayan Banking Bhd (Maybank) fall 2 sen to RM8.63, Public Bank Bhd down 1 sen to RM4.46 and CIMB Group Holdings Bhd lost 4 sen to RM4.92 while Petronas Chemicals Group Bhd remained at RM9.50 and IHH Healthcare Bhd added 1 sen to RM6.50.
Active stocks saw Top Glove Corp Bhd and Country Heights Holdings Bhd up 1 sen at RM1.09 and 11.5 sen while TWL Holdings Bhd was flat at 7.5 sen, SFP Tech Holdings Bhd was down 2 sen at 67.5 sen and Dagang NeXchange Bhd (DNeX) was down 1 sen. cents at 79 cents.
On the index board, the FBM Emas Shariah index strengthened 5.18 points at 10,572.73 and FBM 70 reached 32.04 points at 12,584.47 while the FBM Emas index weakened 6.31 points at 10,388.53, FBM ACE declined 2.44 points at 4,822.54 and FBMT 100 index decreased 7.52 points at 10,123.78.
In terms of sector, the Financial Services index weakened 38.29 points at 16,120.89 and the Plantation index lost 11.59 points at 7,103.38 while the Products and Services Industry index strengthened 0.25 points at 186.61.
